Litecoin (LTC) Price On The Way To $150: Is Rejection Too Strong?

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Rejection at $150: Will LTC Overcome It?

Litecoin has been consolidation a lot more than BTC over the last week. This is an excellent sign of things to come. When looking at consolidations areas, you need to think about what is happening here.

Buyers and sellers are loading and unloading in near equal proportion. Sooner than later seller or buyers will slow down, and this is where you will see the giant spike in the price.

It is better to be on the right side of the market. If you are unclear on where that is, Little_Big_Movement hints that there’s a strong uptrend towards $150.

Be warned: $150 is going to be a pain to break through and with the halving coming in 45 days, this is the best time to load up on Litecoin.

$135 would be the asking price for Litecoin right now. If you do not see an opportunity, at least ensure you have purchased some Litecoin below $140 as a minimum.

Don’t miss 25% profit

LTC is drawing triangle that we will break down as always and will bounce back up from trend line as always as well. Market maker didn’t create anything new for us and again are showing their generosity.

Safe entering will be on fibo levels market on the chart and safe sell will be under global 0.6 fibo. That means 25-26% profit chance. Good luck!

Interesting levels for LTC

LTC failed to push above $140 and took a dive expected. If its current level of $133/134 develops into support, the new attempt at $140 will be soon. If this fails, direction is to the south, $129 and $125 are back in play.

User alskdj recommends 'Expect stop hunting'. Stop hunting is a strategy that attempts to force some market participants out of their positions by driving the price of an asset to a level where many individuals have chosen to set their stop-loss orders.

The triggering of many stop losses at once generally leads to high volatility and can present a unique opportunity for investors who seek to trade in this environment.

Take a look a D chart: corrections (more like overreactions) like this are nothing unusual. Good news is, volume is picking up and RSI points to oversold conditions.

Fibonacci extensions are a way to establish price targets or find projected areas of support or resistance when the price is moving into an area where other methods of finding support or resistance are not applicable or evident.

Although it gets narrower, the pattern is the same. Scale is different while proportion remains.

About the author

Crypto writer, blockchain geek & Bitcoin holder with a strong belief in the power of cryptocurrency. Veronika combines in-depth analytical approach with creative writing to deliver the texts that both inform and entertain. With hundreds of reviews, SEO articles and marketing texts under the belt, she has experience of working for blockchain Medium channels, Cryptodiffer site and ICOs. Part of U.Today team since 2018, she focuses on crypto price predictions and monitors the market to provide the most relevant info & opinions.

Disclaimer: Any financial and market information given on u.today is written for informational purpose only. Conduct your own research by contacting financial experts before making any investment decisions.

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